PalmPay Swift Code: Everything You Need To Know
In Nigeria, NIBSS code is usually refers to as SWIFT Code, BIC and Sort Code. That’s why you’ll see many people asking about OPAY Swift code , PalmPay Swift code or Moniepoint Swift Code. Well, the better truth is that PalmPay does not have a SWIFT code or BIC. SWIFT code is a bank identifier code usually used in United Kingdom (UK) and Ireland’s banks. Hadn’t been PalmPay has a branch or bank account in UK or Ireland, it’d have a SWIFT Code. However, PalmPay is a locally approved mobile money app in Nigeria that’s offering micro financial services such as loan, funds transfer, bill payments e.t.c. to almost every household in the country. So, it’s not an international money transfer (IMT) agents; it cannot have a BIC or SWIFT code. Nevertheless, PalmPay has a locally attached bank identifier code, NIBSS code, that works exactly like a SWIFT code. The Nigeria Inter-bank Settlement System (NIBSS) is the agency that sees into every individual and business financial transactions in Nigeria. …
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Temmy is the founder of Budgetrend. He is a seasoned journalist with extensive experience in business of technology, economy, finance, business, money, politics and education. He is currently studying Accounting at the Federal University of Oye-Ekit…
